Soundtrack Pro: Audio File Project recordings may appear to save only as 16-bit

After recording 24-bit audio to an Audio File Project, it may seem to only be possible to save it as a 16-bit project.

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When you record to a new Audio File Project and save for the first time, you will see this dialog:

It may appear that the project will save as 16-bit integer, but this is not necessarily the case. Audio File Projects save at the same bit depth they were recorded. The Bit Depth drop-down is dimmed and has no effect when saving as an Audio File Project. If you choose a different option from the File Type menu, such as AIFF File or Wave File, the bit depth can be changed.